Today: Raya Holding will skip dividends for 2025 to fund expansion into new entities and Raya Gulf + we have the latest inflation figures for February.

🔔 EGX30 ended +2.93% by market close at 47,772 points, the EGX70 rose 0.98% to 12,639 points, and the EGX100 also rose 1.11% to reach 17,704 points

💸 The number of transactions reached 157,136 spread across 1,423,308,074 stocks leading to a turnover of EGP 6.645 billion.

🏷️ Local investors were the only net buyers.

📈 Top gainers across the broader market Prime Holding (+10.4%), Alexandria New Medical Center (+8.8%), and Amer Group Holding (+6.7%).

📉 Top losers: Alexandria Mineral Oils Company (-8.0%), Misr Chemical Industries (-7.6%), and Samad Misr -EGYFERT (-5.5%).

⬆️ Top gainers for EGX30 included ADIB (+6.6%), Raya Holding (+6.2%), and CIB (+5.3%).

⬇️ Top losers for EGX30 included AMOC (-8.0%), Abu Qir Fertilizers (-5.0%), and Valmore Holding -EGP (-3.2%).

Other Important Stats: 

🧈 24K Gold reached EGP 8,540 per gram, down 0.62% day-on-day but up 11.13% month-on-month.

💲 The USD reached EGP 51.94  at the National Bank of Egypt.

Raya Holding (RAYA) announced that it will not distribute dividends for FY25, with the next payout scheduled for Q1 2026, according to its disclosure to the EGX. The decision is still pending approval from the ordinary general assembly.

Financial performance

Raya Holding reported a net profit of EGP 2.6 billion for 2025, up 53% year-on-year. Total consolidated revenue reached EGP 63.8 billion, marking a 41% increase compared with the previous year. Growth was supported by strong results across the Group’s portfolio companies and an expanding regional footprint.

Next steps

Retaining earnings suggests Raya Holding is prioritizing funding expansion and capital allocation across its subsidiaries. This includes plans to establish two new entities and increase the capital of Raya Gulf.

Stock performance

The company has seen massive momentum since the start of the year, with its share price rising 68.5% since the beginning of 2026. This brings its gains over the past 12 months to 142%.

Egypt’s annual urban inflation rate accelerated to 13.4% in February, up from 11.9% in January, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). The surge comes as regional geopolitical tensions escalate following the war in Iran, expected to push prices higher through rising energy costs, shipping fees, and currency fluctuations.

Three key factors fueled February’s inflation:

Housing and utilities: Costs for housing, water, electricity, gas, and fuel rose 24.5% year-on-year, driven by higher rents and energy prices.

Transportation: Transportation and vehicle costs increased 20.3%, reflecting higher service fees and vehicle purchases.

Food prices: Food inflation accelerated, particularly vegetables (+19.9%), along with fish and beverages. Ramadan-related consumption also typically pushes prices up.

Historical context and monetary response

 Inflation peaked at 38% in September 2023 before gradually declining following the IMF-backed March 2024 financial rescue package. 

Markets now expect the Central Bank of Egypt to adopt a cautious approach, likely maintaining interest rates in the next meeting, sources told Reuters. Previous inflation moderation allowed the bank to cut rates substantially from April 2025 to support economic activity, leaving policy more sensitive to new inflationary shocks.